The staff at Planetary Resources say that when traditional mining companies evaluate a potential mining target, they have many general things in mind:
1. Is it technically feasible? 2. How much will it cost? 3. How much risk is involved, and 4. Will it yield a profitable return?
But the details get more challenging in choosing an asteroid target to explore for possible mining in space. The goals are the same, but the variables can be much different, and more difficult to assess.
An ore is any material that can be recovered from a mining or drilling site and sold for a profit. On Earth, most ores tend to be a metal, such as gold, platinum, copper or uranium, but in space, water can also be considered an ore because it can be recovered from an asteroid and likely sold for a profit or have value on site, or both.
In space, water is one of the most precious resources as it is essential for human survival and provides fuel for efficient transportation. Water can be used to grow food, shield astronauts from radiation, and even as a source of fuel for rockets, satellites, and deep-space probes.
When prospecting for energy or minerals on Earth, you have a huge array of sophisticated tools at your disposal, such a sampling tools, seismic surveys, electromagnetic and gravity surveys, as well as aerial and satellite imagery. You can also send out a ground crew to actually walk the area you are prospecting, and drill core samples. The result is a set of data that allows the mining company and associated potential investors to make an informed decision on moving forward with the project, or moving on to another prospect, if the grade or tonnage appears to be insufficient.
Read on ... but have a read of the following Chapter 9 in AAPG-EMD Memoir 101 as well:
http://i2mconsultants.com/downloads/corp/Memoir101-CHAPTER09Rev.pdf
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